NIFTYSTATISTICSTOOLS

A) In an up-trend

Buy when William % R on 1 month chart (default value 10) crosses above 80
and
just starts to decline after making a "^" peak or plateu!
Book profit as per your comfort level or when trend ends.
(avoid shorting in up-trend)
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B) In a down-trend
Short when the said William % R crosses below 20
and
just starts to rise after making a "V" or "U" turn!
Book profit as per your comfort level or when trend ends.
(avoid going long in down-trend)
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C) In a range-bound market
Buy when William % R crosses above 80
and
just starts to decline after making a "^" peak or plateu!
Short when William % R crosses below 20
and
just starts to rise after making a "V" or "U" turn!
Book profit as per your comfort level or when trend ends.
(don't hesitate to short or long in rangebound or weak-trend markets)
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This method is particularly effective and accurate with Nifty or any index.
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How to get graph with William % R?
A) go to website (http://www.google.com/finance?q=NSE:.NSEI)
for stock pl search stock in the column before "Get Quotes". These google finance charts give almost live quotes for NSE (BSE is delayed).
B) click on '1m' inside graph window
C) click on "technicals" below graph window.
D) Click on "add technical"
E) Select William % R (10/30min default value will appear automatically)
F) You are ready!
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Critical factor = You have to be sure about the trend!